The Public Company Accounting Oversight Board announced yesterday that it would hold a two-day public meeting in March to receive input on auditor independence and audit firm rotation.

A panelist noted that even in New York, non-CPAs can have a certain amount of profit-related bonuses, so it’s really about semantics.

In response to an audience question, Goldfarb said that succession planning was not a good reason for non-CPA ownership, although the audience member noted it might make transitioning easier.

Weinstein says a change would not dilute the brand. A key aspect is signing attest engagements. For other engagements, CPA firms have intense competition from non-CPA firms, he said.

While many graduating colleges are entering an uncertain and even depressing economic landscape, those with the foresight to major in accounting are actually seeing improving conditions compared to previous years, according to the National Association of Colleges and Employers, a professional organization composed of people working in human resources and college career services.

The NYS Legislative Task Force on Demographic Research and Reapportionment—better known as LATFOR—has issued proposed maps for the New York Senate and Assembly, as required by law following the 2010 Census. But it's not end of the process—in fact, it's just the beginning.

New York State Assembly Speaker Sheldon Silver plans to introduce a bill that would increase New York’s minimum wage from $7.50 an hour to $8.50, according to the New York Times.

After negotiations with its European Union counterparts in Paris last week, U.S. tax authorities have agreed to propose changes to the way that foreign income is reported due to concerns voiced by banks and governments that the current model breaches privacy and is unnecessarily complex, according to the Financial Times.